Liberty Interactive To Recapitalize Into 2 Tracking Stocks - Quick Facts

(RTTNews) - Video and on-line commerce businesses firm Liberty Interactive Corp.'s (LINTA, LINTB, LVNTA, LVNTB) board has authorized management to pursue a plan to recapitalize its Liberty Interactive Group tracking stock into two new tracking stocks, one to be renamed the QVC Group common stock and the other to be designated as the Liberty Digital Commerce common stock. In the recapitalization, record holders of Series A and Series B Liberty Interactive stock would receive 1 share of the corresponding series of Liberty Digital Commerce common stock for every 10 shares of the renamed QVC Group stock held by them as of the effective date.

Liberty plans to attribute to the Liberty Digital Commerce Group its units Provide Commerce, Backcountry.com, Bodybuilding.com, CommerceHub, Right Start, and Evite along with cash and certain liabilities. The QVC Group, currently known as the Liberty Interactive Group, would have attributed to it Liberty's division QVC, Inc. and its approximate 38% stake in HSN, Inc., along with cash and certain liabilities.

Liberty anticipates that the Series A and Series B Liberty Digital Commerce shares would trade under the symbols "LDCA" and "LDCB" and that the Series A and Series B QVC Group stock would trade under the symbols "QVCA" and "QVCB," in each case, on the Nasdaq Stock Market. The recapitalization is likely to occur in the first half of 2014.

In addition, Liberty's board has authorized management to pursue a plan to spin-off to holders of its Liberty Ventures Group tracking stock shares of a newly formed company to be called Liberty TripAdvisor Holdings, or Trip Holdings. Trip Holdings would include Liberty's 22% economic and 57% voting interest in TripAdvisor, and Liberty's BuySeasons business, which is now a part of Liberty's unit Celebrate Interactive, LLC. The spin-off is expected to be complete in the first half of 2014.